New Delhi: BEML Limited has earned the prestigious ‘Excellent’ rating with an outstanding score of 90.50 out of 100 under the Memorandum of Understanding (MoU) for the fiscal year 2023-24, said ministry sources. The Department of Public Enterprises (DPE) has recognised BEML’s stellar performance across multiple organisational parameters. These include value of production, overseas income, EBITDA as a percentage of revenue, return on capital employed, asset turnover ratio, and effective procurement and invoice management through GeM.
The defence PSU has excelled in trade receivables management, procurement from MSMEs, and health and safety initiatives, further enhancing its operational efficiency, said sources. The rating also highlights BEML’s strong governance practices, including substantial shareholder returns, effective board composition, and transparency in related party transactions.
"BEML’s remarkable financial performance, marked by a historic dividend payout exceeding 200 percent, was also one of the reasons. The company’s continuous strides in exports and innovative product development further solidify its position as a cornerstone of India’s self-reliance and technological advancement," said one of the sources.
BEML has some key projects under its wing. These include the delivery of India’s first Vande Bharat Sleeper Trainset, the successful test-firing of the 1500 HP engine for Main Battle Tanks, the development of India’s first Electric Rope Shovel, and substantial progress on the country’s first High-Speed Bullet Train project," the PSU added.
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